In 2012, Marco Rubio argued that he would be in favor of getting rid of quotas on sugar imports (a trade barrier) only if the United States got something in return from Brazil. Rubio's argument is not economically sound (consistent with economic theory) for which of the following reasons?
A) Consumers in the United States would be hurt by the higher price of sugar if the quota was removed.
B) U.S. producers that use sugar as an input (for example, Lifesavers) would benefit from a higher price of sugar.
C) A proportion of the gains to trade received by Brazil would be used to import U.S. goods and services.
D) The United States cannot benefit from trade with a country that is less productive.
Correct Answer:
Verified
Q119: In 2015, Donald Trump stated, "When did
Q120: In a 2016 speech, Donald Trump stated,
Q121: In a 2016 debate, Hillary Clinton stated
Q122: In 2016, Hillary Clinton stated the following:
Q123: In a 2004 New York Times article
Q125: Explain the sources of comparative advantage, and
Q126: Explain how importing goods and services leads
Q127: Explain how importing goods and services increases
Q128: Explain how importing goods and services decreases
Q129: Explain how it is possible for an
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents